A popular cryptocurrency exchange has recently launched its highly anticipated Ethereum layer-2 network to the public. OKX opened its X Layer mainnet to users on April 15th, after receiving positive feedback during the testnet phase which began in November of the previous year.
The layer-2 network was built with the help of Polygon’s Chain Development Kit, allowing developers to create their own chains using zero-knowledge technology. OKX’s Chief Marketing Officer, Haider Rafique, stated that the decision to focus on scaling Ethereum was driven by the belief that mainstream adoption is best achieved by supporting the existing Web3 community rather than competing with it.
X Layer is described as a high-performance and secure Ethereum-based Zero Knowledge (ZK) layer-2 network, which has already attracted over 200 decentralized applications. The platform has gained traction with popular apps like Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol all building on it.
Rafique emphasized the goal of onboarding more developers and users to the X Layer mainnet to provide a seamless and efficient on-chain experience that promotes innovation based on layer-2 and ZK technologies. The exchange’s native token, OKB, will be used for gas payments on the network, leading to a 5% increase in value following the mainnet launch.
There was some initial confusion over the chain’s branding, originally promoted as X1 before settling on X Layer. This decision was likely made to avoid potential branding conflicts with another platform developed by XEN developers.
Layer-2 networks like X Layer are gaining attention for their ability to enhance Ethereum’s scalability, a trend that has become increasingly popular in the cryptocurrency space. Collectively, these networks process 117 transactions per second, a significant improvement over Ethereum’s mainchain. The total value of assets secured on layer-2 networks has also reached a substantial $37 billion, showcasing the growing interest in these solutions within the crypto community.
